WASHINGTON (CNN) -- Denmark is the world's most content nation, according to a new study on global wellbeing, but the good news is, despite the credit crunch and rising fuel and food prices, all of us are getting happier.

Researchers at the University of Michigan said Denmark's prosperity, stability and democratic government placed the country at the top of the rankings, with Colombia, Canada, Puerto Rico and Iceland all in the top 10.

The United States -- the world's richest nation -- ranked 16th among 97 countries, while Britain was placed 21st.

Zimbabwe, with its soaring inflation and continuing political crisis, unsurprisingly ranked 97th.